Saudi Arabia is experiencing an exceptional phase of real estate growth, driven by Vision 2030.
Dr. Khaled bin Abdulaziz Al-Nafjan, Chairman of the Board of Directors of The First Projects Holding Group, affirmed that Saudi Arabia is undergoing an exceptional phase of economic growth and real estate transformation, driven by Vision 2030 under the leadership of Crown Prince Mohammed bin Salman.
During a phone interview on the “Al-Moasher” program, hosted by media personality Majed Al-Jabarti on Alif Alif Radio, Al-Nafjan explained that this vision has established a vast investment environment, strengthened the integration of the real estate sector, and created unprecedented opportunities for investors. As a result, the Saudi real estate market has become an attractive destination for both local and global capital.
The Group’s Strategy and Future Directions
Dr. Khaled bin Abdulaziz Al-Nafjan spoke about the strategy of The First Projects Holding Group in the real estate development sector and its diverse investments. He explained that the group specializes in providing integrated solutions, including residential, tourism, and office projects, through its various subsidiaries, which adopt innovation, quality, and sustainability as core values in their operations.
He added that quality in the group’s projects is the most effective way to market its products and services, while sustainability ensures long-term solutions for investors and clients with minimal maintenance costs.
Active Participation in Restatex 2025
Regarding the group’s participation in Restatex 2025, Al-Nafjan stated that this marks the third time the group has participated as a platinum sponsor of this major real estate event.
He emphasized that the exhibition provided an opportunity to showcase the latest real estate projects that have received positive market feedback. Additionally, it allowed the group to present integrated solutions through its specialized companies in real estate development, construction, hotel management, and office management.
The group also highlighted its current residential projects, such as developments in Al-Nakheel and Umm Al-Hamam neighborhoods in Riyadh, reaffirming that this participation strengthened its relationships with clients and investors while showcasing its role in shaping the future of real estate in Saudi Arabia.
Ambitious Expansion Plans and Landmark Projects
Al-Nafjan revealed the group’s future plans, including the launch of a new high-rise residential line:
“The First Projects SKY – Residence” in Al-Olaya, opposite King Fahd Library, in addition to a residential project near Kingdom Center, along with other vertical developments that enhance market diversity.
He noted that the group is also considering expanding its horizontal communities model, following the success of previous projects, with plans to establish gated residential complexes in East Riyadh.
A Flexible Strategy to Overcome Challenges
Al-Nafjan affirmed that the group recognizes the current economic challenges and has integrated them into its strategic planning by offering a diversified portfolio of real estate products, including residential, office spaces, and hotel operations.
He pointed out that the future of the Saudi real estate sector is promising, thanks to Vision 2030, which focuses on developing modern cities, enhancing quality of life, and attracting investment in infrastructure.
Furthermore, he highlighted the significant transformation in the real estate landscape, particularly in Riyadh, where demand for residential compounds and serviced apartments is rising, fueled by increased foreign investment.
A Bright Future in the Real Estate Market
Al-Nafjan concluded by emphasizing that The First Projects Holding Group is committed to being part of this major transformation by investing in projects that align with Vision 2030, such as mixed-use towers and modern residential communities.
He also revealed the group’s plans to launch new hotel projects to support the Kingdom’s growing tourism sector, stating:
“At The First Projects, we strive to stay ahead of the real estate market by delivering added value in our projects—through selecting prime locations, innovative designs, and comprehensive after-sales services. Creativity is the key to progress in this dynamic sector.”
